in the end, i think the election situation in italy is staying pretty much as we expected. we expect any party would achieve an absolute majority in both houses and the italian parliament and be able to run as a coalition. i think the rule is that combination is one that is reasonably positive for the markets and reasonably positive in italian bond prices over the last year. >> is it your contention that actually they'll be the same relative degree of comfort in 2013? at the same time, we've had a big gain? >> well, i think how much value there still is in italian bonds, i think, you know, we have to be a little bit skeptical that there's a lot of value there. certainly what we've seen over the last year or so. having said that, i mean, i think italy is a country which has spanned the benefit or has benefited a lot which we've seen from the introduction of the omt by the ecb. and the italian bear is domestically held. italy is running a family fiscal surplus. and that combination, together with the fact that italy is a country as a whole has a relatively small debt. i think